EFI Acquires Prism Group Holdings
Wednesday, August 03, 2011
Press release from the issuing company
Accelerates International Growth of EFI's Software Applications
FOSTER CITY, Calif., – Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced that it has acquired privately-held Prism Group Holdings ("Prism"). Prism, with headquarters in Australia, is a provider of MIS/ERP (management information systems and enterprise resource planning) software products for the printing and packaging industry, including Prism WIN MIS and Prism QTMS automated shop floor management and work in progress tracking software. While financial terms of the acquisition were not disclosed, the agreement is not expected to be material to EFI's 2011 results.
"We are extremely happy to bring Prism into our expanding portfolio of customer-centric technologies. They have built a very impressive list of clients in Australia, New Zealand, Europe, South Africa and North America, and we welcome those clients to our large global client base," said Marc Olin, GM of EFI's Software Applications ("APPS") business unit. "In addition, we're very excited to have Prism's employees join EFI and help us expand our rapidly growing global presence with their years of expertise in software for the printing and packaging industries."
"We intend to continue to meet the needs of Prism's existing client base with the same enthusiasm that Prism has for the many years they've been in business while offering them access to the full portfolio of EFI products," continued Olin.
"We are very excited to be joining EFI, the clear leader in the business process automation software space for printing and packaging companies," said Filip Buyse, President and CEO of Prism. "It is a natural fit for our client base and we look forward to introducing them to EFI's portfolio of solutions."
Prism software will become part of EFI's Software Applications (APPS) portfolio. EFI intends to integrate support and operations of Prism into the existing APPS organization, which will provide the EFI PrintSmith, EFI Pace, EFI Monarch and EFI Radius software products while continuing to support the existing Prism client base.
Prism is headquartered in Brisbane, Australia, with operations in New Zealand, the United Kingdom and the United States. Prism's customers range from general commercial, web printing, mailing and publication printers, to label printers, packaging companies and converters.
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